AP has seen a recent rise in foreign interest
Andhra Pradesh
Hyderabad: Andhra Pradesh has seen a recent rise in foreign interest. The AP government and Eros Investments Limited, a firm based in the Isle of Man in the United Kingdom, signed a memorandum of understanding on Saturday to set up a multi-billion dollar entertainment city.
AP Chief Minister N. Chandrababu Naidu said this will give a fillip to tourism and create employment and infrastructure, and usher investments into AP. Special chief secretary (tourism) Chandana Khan signed the MoU with Subodh Agarwal, representing EIL in the presence of Mr Naidu.
Eros Investments is a subsidiary of the Eros International PLC group. The entertainment city will comprise a media city, an amusement park, commercial and residential spaces, hotels and leisure and health-care facilities.
The integrated media city will have pre-production and post-production facilities for film, TV and advertising industries. Mr Naidu said the entertainment city will bring revenue into the state’s service sector. Meanwhile, a Qatar-based firm will also be investing in AP.
A delegation led by a Qatar-based company met Mr Naidu and communicated its interest to invest $10 million in the AP. In a meeting with the CM on Saturday at the Secretariat, the delegation, led by Sheikh Hamad Bin Nasser Al Thani, advisor at the general secretariat of the council of ministers, Qatar, discussed investment opportunities in AP.
The delegation has finalised private investments in the state. Sheikh Hamad also invited Mr Naidu to visit Qatar. In addition to this, AP municipal minister P. Narayana said on Saturday that the US has agreed to develop Vizag as smart city.
He said the US gave an assurance to Prime Minister Narendra Modi during his recent visit. Mr Narayana said a meeting to this effect was held in Delhi with Union urban development officials and US government officials on Saturday.
( Source : dc )
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